1. Downing Company issues $1,000,000, 12%, 10-year bonds on January 1, 2020. The bonds spay interest quarterly on March 31, June 30, September 30 and December 31. The bonds are issued to yield 8%. a) Calculate the issue price of the bonds in dollars b) Calculate the issue price of the bonds as a percent c) Make the journal entry to record the sale of the bond